eBay was recognized by the U.S. Postal Service for technology and financial innovation on Monday, after systematically developing a setup on its platform that allows sellers to bill and ship faster. Users of eBay, the world’s largest online marketplace, are able to calculate postage, purchase and print stamps, ship, track, etc., all within their online store.

Patrick R. Donahoe, Postmaster General and Chief Executive Officer of the United States Postal Service, presented the online auctioneer with its Partnership for Progress award at the annual National Postal Forum. eBay received the award for financial and technology achievement, as their one-click systems have saved sellers time and money, with roughly 8 million shipping labels printed in 2004 alone – the year the USPS and eBay formed a partnership to offer users the comprehensive system. With this scheme, shipping rates have grown substantially in the last 8 years, which is good news for the USPS, which has struggled in the digital age.

Jay Hanson, vice president of eBay Managed Marketplaces, who accepted the award, stated, “This is an example of eBay and USPS continuously improving the products, integration, and pricing for our customers. eBay’s innovations are immensely popular because they allow our customers to save considerable time and money, whether they’re an individual entrepreneur, a small business or a retailer. This ultimately means better and faster service for shoppers.”

Donahoe went on to say, “eBay has been a true technology innovator, working with the USPS to help our customers save money while generating more than $800 million in postage last year alone. Our collaboration with eBay demonstrates the transformative power that technology can have for our industry.”

While, The Partnership for Progress award was given for eBay’s general shipping technology enhancements over the years, eBay also launched its Fast ‘N Free program last October. The program highlights items that offer free shipping and fast delivery times. Through a broad system of data mining, eBay is able to identify items that could be delivered in under four days, based on seller location, seller rating and shipping history, and seasonality. Over 3 million items were sold through the Fast N’ Free program since its inception.